EXHIBIT 11.1
LAM RESEARCH CORPORATION
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
Three Months Ended
(in thousands except per share data)
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December 31, December 31,
1995 1994
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Fully Fully
Primary Diluted Primary Diluted
-------- -------- -------- --------
Net income $33,479 $33,479 $18,931 $18,931
Add interest expense on convertible
subordinated debentures, net of
income tax effect 975 735
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$33,479 $34,454 $18,931 $19,666
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Average shares outstanding 27,375 27,305 26,708 26,708
Net effect of dilutive
stock options 925 930 1,227 1,227
Assumed conversion of convertible
subordinated debentures 2,640 2,640
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28,300 30,875 27,935 30,575
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Net income per share $1.18 $1.12 $0.68 $0.64
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Six Months Ended
(in thousands except per share data)
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December 31, December 31,
1995 1994
------------------- -------------------
Fully Fully
Primary Diluted Primary Diluted
-------- -------- -------- --------
Net income $63,946 $63,946 $33,984 $33,984
Add interest expense on convertible
subordinated debentures, net of
income tax effect 1,748 1,484
-------- -------- -------- --------
$63,946 $65,694 $33,984 $35,468
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Average shares outstanding 27,313 27,313 25,206 25,206
Net effect of dilutive
stock options 1,037 1,047 1,144 1,144
Assumed conversion of convertible
subordinated debentures 2,640 2,640
-------- -------- -------- --------
28,350 31,000 26,350 28,990
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Net income per share $2.26 $2.12 $1.29 $1.22
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